Seoul Takes Closer Look at Chaebols

By

In-Soo Nam

Jul 3, 2013 6:10 pm KST

Agence France-Presse/Getty Images

South Korea’s largest food and entertainment conglomerate CJ Group chairman Lee Jae-hyun, in the center, is being taken to prison in Seoul after a court approved the prosecution’s request for an arrest warrant.

South Korean President Park Geun-hye came to power with a promise to rebalance the economy by taming the country’s sprawling conglomerates, called chaebols. Events this week will help show how far the government intends to go in pursuing that goal.

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